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Regulatory Capital

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Regulatory Capital

15.     Regulatory Capital

Under current capital regulations, the Bank is required to comply with four separate capital adequacy standards. As of September 30, 2020, the Bank continues to be categorized as “well-capitalized” under the prompt corrective action regulations and continues to exceed all regulatory capital requirements. The Bank is also required to comply with a Capital Conservation Buffer (“CCB”). The CCB is designed to establish a capital range above minimum capital requirements and impose constraints on dividends, share buybacks and discretionary bonus payments when capital levels fall below prescribed levels. The minimum CCB is 2.50%. The CCB for the Bank at September 30, 2020 was 5.54%.

Set forth below is a summary of the Bank’s compliance with banking regulatory capital standards.

​

​	​	​	​	​	​	​	​	​	​	​	​
​		September 30, 2020					December 31, 2019
​	​	​	​	​	Percent of	​	​	​	​	Percent of
​		Amount			Assets		Amount			Assets
​		(Dollars in thousands)									​
Tier I (leverage) capital:		​					​				​
Capital level	​	$	694,041		9.93	%	$	680,749		9.65	%
Requirement to be well capitalized	​		349,453		5.00	​		352,581		5.00	​
Excess	​		344,588		4.93	​		328,168		4.65	​
​	​	​	​	​	​	​	​	​	​	​	​
Common Equity Tier I risk-based capital:	​					​					​
Capital level	​	$	694,041		12.88	%	$	680,749		13.02	%
Requirement to be well capitalized	​		350,156		6.50	​		339,944		6.50	​
Excess	​		343,885		6.38	​		340,805		6.52	​
​	​	​	​	​	​	​	​	​	​	​	​
Tier 1 risk-based capital:	​					​					​
Capital level	​	$	694,041		12.88	%	$	680,749		13.02	%
Requirement to be well capitalized	​		430,962		8.00	​		418,393		8.00	​
Excess	​		263,079		4.88	​		262,356		5.02	​
​	​	​	​	​	​	​	​	​	​	​	​
Total risk-based capital:	​					​					​
Capital level	​	$	729,160		13.54	%	$	702,500		13.43	%
Requirement to be well capitalized	​		538,702		10.00	​		522,991		10.00	​
Excess	​		190,458		3.54	​		179,509		3.43	​

​

The Holding Company is subject to the same regulatory capital requirements as the Bank. As of September 30, 2020, the Holding Company continues to be categorized as “well-capitalized” under the prompt corrective action regulations and continues to exceed all regulatory capital requirements. The CCB for the Holding Company at September 30, 2020 was 5.71%.

Set forth below is a summary of the Holding Company’s compliance with banking regulatory capital standards.

​

​	​	​	​	​	​	​	​	​	​	​	​
​		September 30, 2020					December 31, 2019
​	​	​	​	​	Percent of	​	​	​	​	Percent of
​		Amount			Assets		Amount			Assets
​	​	(Dollars in thousands)
Tier I (leverage) capital:		​					​				​
Capital level	​	$	630,380		9.03	%	$	615,500		8.73	%
Requirement to be well capitalized	​		349,174		5.00	​		352,581		5.00	​
Excess	​		281,206		4.03	​		262,919		3.73	​
​	​	​	​	​	​	​	​	​	​	​	​
Common Equity Tier I risk-based capital:	​					​					​
Capital level	​	$	593,344		11.02	%	$	572,651		10.95	%
Requirement to be well capitalized	​		349,826		6.50	​		339,929		6.50	​
Excess	​		243,518		4.52	​		232,722		4.45	​
​	​	​	​	​	​	​	​	​	​	​	​
Tier 1 risk-based capital:	​					​					​
Capital level	​	$	630,380		11.71	%	$	615,500		11.77	%
Requirement to be well capitalized	​		430,555		8.00	​		418,374		8.00	​
Excess	​		199,825		3.71	​		197,126		3.77	​
​	​	​	​	​	​	​	​	​	​	​	​
Total risk-based capital:	​					​					​
Capital level	​	$	740,499		13.76	%	$	712,251		13.62	%
Requirement to be well capitalized	​		538,194		10.00	​		522,967		10.00	​
Excess	​		202,305		3.76	​		189,284		3.62	​

​

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The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

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